High River Gold Closes $5.75 Million Private Placement
Wednesday, September 5th, 2007
High River Gold Mines Ltd. is pleased to announce that it has closed the previously announced non-brokered private placement financing with DBM Capital Partners Ltd. consisting of 2,500,000 units at a price of Cdn. $2.30 per unit for gross proceeds of Cdn. $5.75 million. Each Unit consists of one common share and one-half common share purchase warrant. Each whole warrant is exercisable at a price of Cdn. $3.10 for a period of 24 months from the closing date. The warrants are subject to forced conversion effective 12 months from closing if High River’s share price closes for twenty consecutive days at Cdn. $4.10 per share or above.
Proceeds of the offering will be used by High River for general corporate purposes.